Event Details

The Securities & Exchange Board of India (SEBI) had set up a Committee in June 2017 under the chairmanship of Mr. Uday Kotak, Executive Vice Chairman and Managing Director of Kotak Mahindra Bank Ltd. to review the current corporate governance norms applicable to listed companies and present its recommendations with the aim of improving the standards of corporate governance of listed companies in India. The Committee comprised of representative from the corporate sector, Government, industry bodies, lawyers, academicians, proxy-advisory firms, etc.

The Committee submitted its Report to SEBI on October 5, 2017 recommending far-reaching changes in the corporate governance norms for listed companies in the areas of :

Composition and role of boards of directors

Institution of Independent Directors

Functioning of the Board Committees

Enhanced monitoring of group entities

Relationship between promoters / controlling shareholders and listed entities including Related Party Transactions